2004 Senate Bill 1113

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Introduced in the Senate

March 18, 2004

Introduced by Sen. Hansen Clarke (D-1)

To eliminate the link between the Michigan estate tax and the federal estate tax, which would establish a permanent Michigan 5.3 percent estate tax on estates of $1 million or more. Assets attributable to family owned businesses, including farms, would be excluded from taxation.

Referred to the Committee on Finance

June 17, 2004

Failed in the Senate 15 to 22 (details)

To eliminate the link between the Michigan estate tax and the federal estate tax, which would establish a permanent Michigan 5.3 percent estate tax on estates of $1 million or more. Assets attributable to family owned businesses, including farms, would be excluded from taxation. This would increase the amount of tax paid by estates by $90 to $120 million a year.